A new 176-unit apartment project will soon be taking shape in Los Angeles’ Echo Park neighborhood. While previously approved by the City in 2021, the development recently received permits to begin construction.
The Ottinger Architects-designed project will be located at 2225 W. Sunset Blvd. and will consist of a 160,263 square foot building totaling seven stories. The residential portion of the building will sit above two levels of parking that will provide 203 parking spaces as well as 113 long term bicycle parking spaces and 12 short term bicycle parking spaces.
In total, the project includes 63 studio units, 75 one-bedroom units, 13 two-bedroom units, two four-bedroom units, 18 five-bedroom units and five live-work units. Of these units, 18, or about 10 percent, will be set aside as affordable housing.
The project also offers several tenant amenities, including a spa, fitness center, co-working space and a rooftop deck.
The project site consists of six lots that are currently developed with a mix of single family, multifamily, and commercial buildings, with a total of 11 structures on the site.
Located in the Echo Park neighborhood, the project site is within walking distance to various retail and dining options and is also just a short commute to Downtown Los Angeles. The site is also closely situated to Dodger Stadium and Elysian Park.
Cypress Equity Investments has a number of projects planned throughout the Greater Los Angeles area. Last year, plans were submitted for Lincoln Center, a 521-unit mixed-use development in Santa Monica. The property is owned by SanMon Inc., an affiliate of Balboa Retail Partners, which is teaming up with Koning Eizenberg Architects and Cypress Equity Investments to deliver the project. The building, which also includes 36,000 square feet of commercial space, would replace a Gelson’s grocery store at 2601-2645 Lincoln Blvd.
The company was founded in 2001, according to its website, and has developed and invested in over 160 projects valued at more than $15 billion. Cypress Equity Investments’ current pipeline starts at over $2.5 billion in capitalization.
